AI is another major technological innovation. AI needs data, or more precisely, big organized data. Most data processing is about making it useful for automatic systems such as machine learning, deep learning, and other AI systems. But one big problem with AI systems is that they lack context. An AI system is a pattern recognition machine devoid of any understanding of how the world works.This lecture discusses how AI systems are used in business and their limitations.A lecture by Raghavendra Rau recorded on 22 May 2023 at Barnard's Inn Hall, London.The transcript and downloadable versions of the lecture are available from the Gresham College website: https://www.gresham.ac.uk/watch-now/ai-businessGresham College has offered free public lectures for over 400 years, thanks to the generosity of our supporters. There are currently over 2,500 lectures free to access. We believe that everyone should have the opportunity to learn from some of the greatest minds. To support Gresham's mission, please consider making a donation: https://gresham.ac.uk/support/Website:  https://gresham.ac.ukTwitter:  https://twitter.com/greshamcollegeFacebook: https://facebook.com/greshamcollegeInstagram: https://instagram.com/greshamcollegeSupport the show

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